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https://wcsecure.weblink.com.au/pdf/PV1/02624522.pdf
Current MC 01/27/2023: 32,35M AUD
Cash on hand 12/31/2022: 8.1M AUD
Cash on hand 09/30/2022: 9.7M AUD
Annual Report 2022:
https://uploads-ssl.webflow.com/...rt%2520-%2520Digital%2520FINAL.pdf
" ... Instruments Over Unissued Shares Outstanding
The following instruments to subscribe for unissued fully paid ordinary shares in Provaris are outstanding at the date of this report:
96,681,458 loyalty options, issued at $0.005, exercisable at $0.12 each and expiring on 26 May 2023.
6,600,000 Class E Performance Rights and 9,900,000 Class F Performance Rights (together “EF Performance Rights”). All EF Performance Rights remained on issue at the end of the year. All EF Performance Rights expire on 30 November 2022 and on vesting each Performance Right entitles the holder to one fully paid ordinary share in Provaris.
Class E Performance Rights will vest when either:
(a) a notice to proceed for a contract for the construction of CNG Ship(s) for the first project for the marine transportation of compressed natural gas in which Provaris has an interest and which is reliant on SeaNG Technology is given (Notice to Proceed Date); or
(b) both the 30-day VWAP of Provaris’ Shares exceeds A$0.45 at any time subsequent to the acquisition of Sea NG Corporation (now renamed GEV Canada Corporation) (SeaNG) and either Provaris obtains ABS Full Approval for construction of an Optimum CNG Ship with net design gas storage capacity exceeding 250 MMscf or a contract for the construction of a CNG Ship for the project is executed (Contract Date).
Class F Performance Rights will vest when either:
(a) the Notice to Proceed Date occurs; or
(b) both the 30-day VWAP of Provaris’ exceeds A$0.55 at any time subsequent to the acquisition of SeaNG and the Contract Date occurs.
Any EF Performance Rights not vested before their expiry date will lapse. The issue of the EF Performance Rights was approved at the general meeting of shareholders held on 29 April 2019. No EF Performance Rights were exercised or cancelled during the period. None of the EF Performance Rights had their vesting conditions met during the period.
12,500,000 PV1AM Performance Rights, issued on 6 August 2021, all remained on issue at the end of the year. All PV1AM Performance Rights expire on 6 August 2024 and on vesting each Performance Right entitles the holder to one fully paid ordinary share in Provaris.
Vesting conditions of PV1AM Performance Rights are as follows:
(a) 3,500,000 will vest when Provaris’ share price reaches $0.20, based on the volume weighted average market price of shares over 20 consecutive trading days on which Provaris’ securities have traded;
(b) 4,000,000 will vest when Provaris’ share price reaches $0.30, based on the volume weighted average market price of shares over 20 consecutive trading days on which Provaris’ securities have traded; and
(c) 5,000,000 will vest when Provaris’ share price reaches $0.40, based on the volume weighted average market price of shares over 20 consecutive trading days on which Provaris’ securities have traded.
Any PV1AM Performance Rights not vested before their expiry date (6 August 2024) will lapse. The PV1AM Performance Rights were issued pursuant to the Performance Rights Plan, which was approved at the general meeting of shareholders held on 22 July 2021. No PV1AM Performance Rights were exercised or cancelled during the period. None of the PV1AM Performance Rights had their vesting conditions met during the period.
No person entitled to exercise any of these options or performance rights had or has any right by virtue of the option or performance right to participate in any share issue of any other body corporate ..."
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